XRP ETFs Have Locked Up 900 Million Tokens. Why Hasn’t It Squeezed the XRP Price?

XRP ETFs hold just 1.5% of the 62.5 billion circulating supply, while Ripple's escrow releases 300 million tokens monthly, offsetting every coin the funds remove.

ETF inflows have collapsed from $650 million in November 2025 to just $1 million in August 2026, erasing the buying pressure needed to squeeze prices higher.

The CLARITY Act could unlock $667 million in monthly ETF inflows per JPMorgan and Standard Chartered, finally outpacing Ripple's 300 million monthly escrow releases.

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XRP Exchange Traded Funds now hold about 930 million tokens, which are all locked away in custody and out of reach of the market.

XRP holders have been expecting the inflows to impact the coin's value, since fewer tokens shrinking supply creates a squeeze that triggers price appreciation. However, XRP (CRYPTO:XRP) trades at $1.01 today, down 6.3% over the past week and 8.2% over the past month.

Despite XRP ETFs taking nearly a billion coins off the market, why hasn't all that locked-up supply squeezed the XRP price?

XRP ETFs launched in November 2025 and have pulled in $1.51 billion since then, which has taken about 930 million coins off the market. However, that comes to just 1.49% of the 62.5 billion XRP in circulation, leaving 61.5 billion in everyone else's hands. A squeeze needs buyers taking coins off the market faster than holders will part with them, and at that ratio there are always sellers willing to meet a bid.